operation or maintenance of the Aircraft against each other to the extent that such claims or losses are covered by insurance. Lessee and Lessor agree that
in the event either party shall be liable to the other for any reason relating to this Lease, that under no circumstances shall the damaged party be entitled to any special, punitive or consequential damages, including but not limited to damages for
lost profits. 

 **ARTICLE EIGHTEEN** 

 **DEFAULT** 

  




|  |  |
| --- | --- |
| 18.1 | A party shall be in default hereunder if at any time during the Term, such party:  |

  




|  |  |  |
| --- | --- | --- |
|   | (a) | is adjudicated bankrupt or insolvent; or  |

  




|  |  |  |
| --- | --- | --- |
|   | (b) | files a voluntary petition in bankruptcy or for reorganization; or  |

  




|  |  |  |
| --- | --- | --- |
|   | (c) | makes a general assignment for the benefit of creditors; or  |

  




|  |  |  |
| --- | --- | --- |
|   | (d) | suffers a receivership to be appointed for its assets; or  |

  




|  |  |  |
| --- | --- | --- |
|   | (e) | does not perform any or all of the requirements on its part to be performed under this Lease or is in breach of all or any of the covenants herein contained and fails, within thirty
(30) days after receipt of notice from the other party, to cure such nonperformance or breach.  |

 **ARTICLE NINETEEN**